Friday, December 11, 2015

Photronics - Chart of the Day

Photronics (PLAD) is the Barchart Chart of the Day.  The  photomask company has a Trend Spotter buy signal, a Weighted Alpha of 63.30+ and gained 50.49% in the last year.

The Chart of the Day belongs to Photronics (PLAB).  I found the photomask manufacturer by using Barchart to sort the Russell 3000 Index stocks first for the highest number of new highs in the last month, then again for technical buy signals above 80%.  I then used the Flpchart feature to find the chart I liked.  Since the Trend Spotter signaled a buy on 10/1 the stock gained 32.90%.

Photronics is a leading worldwide manufacturer of photomasks. Photomasks are high precision quartz plates that contain microscopic images of electronic circuits. A key element in the manufacture of semiconductors and flat panel displays, photomasks are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits, a variety of flat panel displays and, to a lesser extent, other types of electrical and optical components. They are produced in accordance with product designs provided by customers at strategically located manufacturing facilities in Asia, Europe, and North America.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 22.65% in the last month
  • Relative Strength Index 72.93%
  • Barchart computes a technical support level at 12.07
  • Recently traded at 12.40 with a 50 day moving average of 10.28
Fundamental factors:
  • Market Cap $827.95 million
  • P/E 19.78
  • Revenue expected to grow 7.90% this year and another 4.30% next year
  • Earnings estimated to increase 28.10% this year, an additional 19.50% next year and continue to compound at an annual rate of 10.00% for the next 5 years
  • Wall Street analysts issued 2 strong buy and 3 buy recommendations on the stock
None of the regular technical trading strategies have been reliable on this stock.

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